L3Harris Technologies Inc $LHX Shares Acquired by AGF Management Ltd.

AGF Management Ltd. boosted its position in L3Harris Technologies Inc (NYSE:LHX) by 15.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,500,887 shares of the company’s stock after buying an additional 205,479 shares during the period. L3Harris Technologies comprises about 2.0% of AGF Management Ltd.’s portfolio, making the stock its 7th biggest holding. AGF Management Ltd.’s holdings in L3Harris Technologies were worth $458,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in L3Harris Technologies by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 23,170,042 shares of the company’s stock worth $5,811,973,000 after purchasing an additional 121,619 shares in the last quarter. State Street Corp increased its holdings in shares of L3Harris Technologies by 1.2% during the second quarter. State Street Corp now owns 8,874,482 shares of the company’s stock worth $2,226,075,000 after purchasing an additional 105,402 shares during the period. Geode Capital Management LLC raised its position in shares of L3Harris Technologies by 0.8% in the second quarter. Geode Capital Management LLC now owns 4,948,981 shares of the company’s stock valued at $1,236,410,000 after buying an additional 38,820 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of L3Harris Technologies by 52.3% in the second quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock valued at $1,032,716,000 after buying an additional 1,413,833 shares during the period. Finally, Boston Partners increased its stake in L3Harris Technologies by 72.1% during the 2nd quarter. Boston Partners now owns 2,002,211 shares of the company’s stock worth $504,160,000 after acquiring an additional 838,546 shares during the period. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 3.8%

Shares of LHX opened at $342.50 on Monday. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $369.59. The business has a 50-day moving average of $308.13 and a 200 day moving average of $291.76. The firm has a market cap of $64.06 billion, a P/E ratio of 40.15, a price-to-earnings-growth ratio of 2.11 and a beta of 0.64. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.10. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The company had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.76 billion. During the same period in the previous year, the business earned $3.47 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, research analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s payout ratio is currently 56.27%.

Insiders Place Their Bets

In related news, CEO Christopher E. Kubasik sold 14,171 shares of the firm’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the transaction, the chief executive officer directly owned 144,426 shares of the company’s stock, valued at approximately $43,479,447.30. This trade represents a 8.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.72% of the stock is owned by insiders.

Analysts Set New Price Targets

LHX has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on shares of L3Harris Technologies from $325.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Susquehanna reaffirmed a “positive” rating on shares of L3Harris Technologies in a research note on Thursday, January 15th. Wall Street Zen lowered shares of L3Harris Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday, January 11th. Weiss Ratings upgraded shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. Finally, Citigroup boosted their price objective on L3Harris Technologies from $331.00 to $389.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Fifteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus price target of $316.07.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.